Skip to comments.Friday's US Jobs Report Is So Stunningly Bad It's A Danger To The Global Economy
Posted on 06/03/2012 10:37:55 AM PDT by Son House
Alan Krueger, head of the president's Council of Economic Advisers, pointed out that the country has added jobs for 27 months in a row, including 4.3 million jobs in the private sector. The economy still has a few bright spots. Americans bought cars and trucks a strong pace last month, giving automakers their best May since 2008.
Underscoring the challenge for Obama with five months to go in the campaign, a May poll by The Associated Press and GfK, a research company, showed that 52 percent disapproved of Obama's handling of the economy while 46 percent approved.
Some financial analysts said that the dismal job figures put pressure on the Federal Reserve to take additional steps to help the economy, but it was not clear how much good the Fed could do beyond trying to inspire confidence.
The central bank has already kept the short-term interest rate it controls at a record low of almost zero since the fall of 2008, during the financial crisis, and pledged to keep it there through late 2014.
It has undertaken two rounds of massive purchases of government bonds, starting in March 2009 and November 2010, to help drive long-term interest rates down and stimulate stock prices. Another program to lower long-term interest rates, known as Operation Twist, was announced last September and ends in June.
But low interest rates, other analysts pointed out, are not the problem. An investor stampede into bonds on Friday drove the yield on the 10-year U.S. Treasury note as low as 1.44 percent, the lowest on record.
Fed Chairman Ben Bernanke testifies next week before a joint committee of Congress, and the Fed next meets June 19 and 20.
(Excerpt) Read more at businessinsider.com ...
The above chart shows the labor force participation rate. This statistic represents the share of working-age Americans who are either employed or unemployed but looking for work. It is not a pretty picture. Only 63.7% of working-age Americans are currently in the workforce the lowest in almost 29 years!
To put it another way, 36.3% of working-age Americans do not have a job and are not even looking.
Those Obamturds are really taking Hitler’s advice.
Big, big lies, repeated incessantly.
The title should be :
Obama Is So Stunningly Bad, He’s A Danger To The Global Economy
That is the obvious connection the headline is parsed as.
Wait until the jobs numbers turn negative.
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So....they added 4.3 million jobs....while we LOST 5 million??? or more?
Business Insider what have they inside of, their asses.
The bigger the lie the easier it is to believe.
He needs more time. After all — Rome wasn’t burned in a day.
US and European regulators are essentially forcing banks to buy up their own government's debta move that could end up making the debt crisis even worse, a Citigroup analysis says.
Regulators are allowing banks to escape counting their country's debt against capital requirements and loosening other rules to create a steady market for government bonds, the study says.
Here is the actual opening of the article-—
WASHINGTON (AP) Another bad month for the U.S. job market is lengthening the list of perils facing the global economy.
American employers added only 69,000 jobs in May, the fewest in a year and not even close to what economists expected. For the first time since June, the unemployment rate rose, to 8.2 percent from 8.1 percent.
It was the third month in a row of weak job growth and further evidence that, just as in 2010 and 2011, a winter of hope for the economy has turned to a spring of disappointment.
“This is horrible,” said Ian Shepherdson, chief economist at High Frequency Economics, a consulting firm.
The job figures, released Friday by the Labor Department, dealt a blow to President Barack Obama at the start of a general election campaign that will turn on the economy.
They also deepened the pessimism of investors, who even before the report was released were worried about a debt crisis in Europe with no sign of solution and signs of a slowdown in the powerhouse economy of China.
“The U.S. is not an island, and what happens abroad matters here,” said Diane Swonk, chief economist at Mesirow Financial. “The weakness in Europe, in particular, has a global reach and is affecting us.”
See tag line.
Obama and the democrats have been unrelenting in their deliberate advances to kill the incentive of the ambitious.
Nothing will get better until Obama is removed from the White House and the dems are taken out of power.... even then, it may very well take generations to repair the damage.
What until next week when the numbers will be raised down...AGAIN.
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